On behalf of Advisors Series Trust and pursuant to Rule 497(e) under the Securities Act of 1933, as amended, attached for filing are XBRL exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information contained in a supplement to the Prospectus and Summary Prospectus dated March 30, 2014, as supplemented on March 30, 2014, for the PIA BBB Bond Fund and PIA MBS Bond Fund, filed pursuant to Rule 497(e) on March 28, 2014. The purpose of this filing is to submit the XBRL exhibits for the risk/return summary provided in the 497(e) filing (Accession Number 0000894189-14-001544).